S&P, Nasdaq Clinch Sixth Quarterly Gain Though Markets Close Mixed

The S&P 500 and Nasdaq clinch their sixth consecutive quarterly gain, a feat not seen in more than a decade.

NEW YORK ( TheStreet) -- The S&P 500 and Nasdaq clinched their sixth consecutive quarterly gain, a feat not seen in more than a decade, even though benchmark U.S. indices closed mixed.

In the second quarter of 2014, the S&P added 4.7%, the Nasdaq climbed 5% and the Dow Jones Industrial Average gained 2.2%.

Pending home sales in May jumped 6.1% to 103.9, an eight-month high and the highest monthly gain since April 2010. The month-on-month jump was also the highest since April 2010, significant given that increase was driven by the looming expiration of tax credits for first-time buyers. Economists had expected a 1.5% rise. However, the measure still remains 5.2% below a May 2013 reading of 109.6.

Strength in the housing recovery overshadowed weakness in manufacturing data. The Chicago PMI slipped to 62.6 in June from a seven-month high a month earlier. Still, the measure remains above the 50-level which is indicative of expansion.

"Activity [is] slowing a little between May and June, but it remains at a high level supported by the strength in production and new orders," MNI Indicators' chief economists Philip Uglow wrote in a note.

At market close, the S&P 500 had slipped 0.04% to 1,960.23, the Nasdaq added 0.23% to 4,408.18, and the Dow dropped 0.15% to 16,826.6.